FY2016 Earnings Forecast for Nevro Corp Issued By Leerink Swann (NVRO)
Nevro Corp (NASDAQ:NVRO) – Analysts at Leerink Swann upped their FY2016 earnings per share estimates for Nevro Corp in a report released on Tuesday. Leerink Swann analyst D. Antalffy now anticipates that the firm will post earnings of ($0.92) per share for the year, up from their prior estimate of ($1.27). Leerink Swann also issued estimates for Nevro Corp’s Q4 2016 earnings at ($0.15) EPS, Q1 2017 earnings at ($0.17) EPS, Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.09 EPS, FY2017 earnings at ($0.12) EPS, FY2018 earnings at $0.49 EPS and FY2019 earnings at $1.21 EPS.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Nevro Corp from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Friday. B. Riley reissued a “buy” rating and set a $102.00 target price on shares of Nevro Corp in a report on Tuesday. Piper Jaffray Cos. reissued an “overweight” rating and set a $112.00 target price (up from $98.00) on shares of Nevro Corp in a report on Thursday, August 11th. JPMorgan Chase & Co. boosted their target price on shares of Nevro Corp from $84.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. Finally, JMP Securities boosted their target price on shares of Nevro Corp from $90.00 to $110.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 9th. Eleven research analysts have rated the stock with a buy rating, Nevro Corp has a consensus rating of “Buy” and an average price target of $100.50.
Shares of Nevro Corp (NASDAQ:NVRO) opened at 86.98 on Thursday. Nevro Corp has a one year low of $47.07 and a one year high of $106.93. The firm’s market capitalization is $2.50 billion. The company’s 50 day moving average is $95.22 and its 200-day moving average is $83.91.
Nevro Corp (NASDAQ:NVRO) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.26. The company had revenue of $60.92 million for the quarter, compared to analyst estimates of $58.05 million. During the same quarter in the previous year, the business earned ($0.70) earnings per share. The company’s revenue was up 295.6% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Columbus Circle Investors increased its position in Nevro Corp by 18.1% in the second quarter. Columbus Circle Investors now owns 1,057,128 shares of the company’s stock worth $77,974,000 after buying an additional 162,109 shares during the last quarter. Essex Investment Management Co. LLC increased its position in Nevro Corp by 40.9% in the second quarter. Essex Investment Management Co. LLC now owns 12,860 shares of the company’s stock worth $949,000 after buying an additional 3,735 shares during the last quarter. Quantbot Technologies LP bought a new position in Nevro Corp during the second quarter worth about $323,000. UBS Asset Management Americas Inc. increased its position in Nevro Corp by 12.7% in the second quarter. UBS Asset Management Americas Inc. now owns 8,000 shares of the company’s stock worth $590,000 after buying an additional 900 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in Nevro Corp by 57.3% in the second quarter. Teacher Retirement System of Texas now owns 2,956 shares of the company’s stock worth $218,000 after buying an additional 1,077 shares during the last quarter.
In related news, VP Doug Alleavitch sold 3,000 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $100.00, for a total transaction of $300,000.00. Following the transaction, the vice president now owns 5,961 shares in the company, valued at approximately $596,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wilfred E. Jaeger sold 155,160 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $97.31, for a total transaction of $15,098,619.60. The disclosure for this sale can be found here.
About Nevro Corp
Nevro Corp. is a medical device company. The Company has developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is a spinal cord stimulation (SCS) system that delivers its HF10 therapy. HF10 therapy is designed to deliver neuromodulation solutions for treating chronic pain.
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